Mechanization: A Boon or a Bane
Apart from minimum wages, another hotly debated economic issue is that of mechanization. Mechanization has been demonized by many critics stating that it is the enemy of employment. Critics’ state that mechanization, benefits the capitalist class and that it aids in spreading inequality. It is true that the productivity of the economy goes up. However, […]
Criticisms of Globalization: Growing Income Inequality
More Losers than Winners The previous articles in this module covered the topic of globalization in depth. Some of the points of discussion were about how globalization has succeeded in lifting millions of people out of poverty. While accepting this fact, it is also the case that globalization has created income inequality which when coupled […]
How do Investment Banks Make Money?
Investment banks perform a wide variety of activities. As we have explained in previous articles, the work performed by investment banks overlaps with the work performed by a lot of other financial institutions. Hence, they also make money in a wide variety of ways. They sell their services to large corporations and even governments. Over […]
Entrepreneurs and Hot Money Flows and Investments
The Symbiotic Relationship between Financiers and Entrepreneurs Entrepreneurs need funding and venture capitalists and financiers need emerging businesses with great potential for investments. Therefore, there is a symbiotic relationship with entrepreneurs and the financiers wherein each need the other for mutual gain. While the entrepreneurs would use the capital invested by the financiers to grow […]
Missed Call: A Case Study of the Indian Telecom Industry in the Post Liberalization Era
The Mobile Revolution has Transformed Indian Society and Economy When compared to the other sectors that flourished in the post liberalization phase starting from the 1990s, the Indian Telecom Sector is perhaps the biggest success story as far as its role as an enabler of connectivity and helping the rural residents as well as the […]
Transformational leadership is one of the many kinds of leadership that is usually on display in the real world. The reason for focusing on this particular type of leadership in this article is to highlight the need for transformational leadership in these tough times when the ability to articulate a vision and motivate the employees along with putting the company before self is badly needed.
The point here is that unless corporate leaders display transformational leadership in these turbulent times, the organizations that they head would not be able to withstand the headwinds of turbulence and navigate the choppy seas of competition.
Examples of transformational leaders include the late legendary Steve Jobs of Apple, Bill Gates of Microsoft, Jack Welch of GE, and NR Narayana Murthy of Infosys. Along with these figures, the names of Aditya Birla and Ratan Tata come to mind when listing the hall of fame for transformational leaders.
Transformational leadership goes beyond normal leadership and as the name implies, it results in a complete rejuvenation of the company and a transformation of its place in the corporate world.
For instance, the late Steve Jobs succeeded in altering consumer perceptions of computing, mobile technology, and the way in which media is consumed in the digital age. Similarly, Bill Gates can be credited with pioneering the personal computing revolution that has benefited Billions of people around the world and has transformed the landscape of the business world.
Further, NR Narayana Murthy can be said to have incubated a whole industry with his stewardship of Infosys that resulted in the IT sector in India taking off in a big way and emerging as a force to reckon with in the world.
Finally, Ratan Tata and Aditya Birla can be credited with transforming what were essentially family owned businesses into a new look professionally managed conglomerates that redefined the map of the corporate world in the county and abroad.
Moreover, these figures succeeded in not only driving their companies to greater heights but also ensured that they were trailblazing and path breaking in their endeavors. For instance, Ratan Tata introduced the concept of the one Lakh Car in India, which ensured that millions of middle class consumers could convert their dream of owning a car into reality.
Apart from Ratan Tata, Capt. Gopinath of the erstwhile Deccan Airways fame transformed the concept of aviation in India by providing the common person with the wherewithal and the connectivity needed by introducing the concept of SimplyFly or bringing flying to the masses.
We shall be discussing each of these figures and the traits of transformational leadership in other articles as well. It would suffice here to state that what each of these leaders had in common was a vision and the ability to translate it into actionable results and actualize it in practice.
The point to be noted is that many leaders have the vision but fail to translate into reality. While some leaders (who are truly extraordinary) like the Late Legendary Dhirubhai Ambani had a combination of vision, mission, ambition, and hard work, which proved that he remains a towering figure in the list of transformational leaders.
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